Well, a second hotter than expected inflation report sending tremors to the market today.

Risk was especially off, but S&P holds on to 5,000.

That's a scorecard on Wall Street, but winter's stay late.

Welcome to Closing Bell Overtime. I'm John Ford with

Morgan Brevin. Well, the major averages snapping a five-week wind streaks as tech

and communication services way on stocks. They were the worst performing

sectors this week coming up

former Boston Fed President Eric Rosengren on whether he thinks the

market is overreacting to today's PPI reports. Plus a top energy trader on

whether the big sell-off in natural gas this year is creating a buying

opportunity, yeah?

But first, let's get to today's action with our first guest.

Joining us now is obviously capital markets head of US equity strategy

lorry kavasina lorry so what's the strategy here we're still about five thousand

after two hot inflation reads in a way that could be good news. I mean if you're looking if you

were guessing I guess what was going to happen with CPI and PPI and how the

market would react off of these highs you might not have this, but your bull case is quite a bit higher.

Yeah, so look, we've got 5150 as our year-end price target on the S&P.

One of our models is pointing to 5500 as a potential bull case and that's

really based on our valuation work, which takes into account things like moderating inflation,

a little bit of relief on interest rates, and a recovery in GDP in the back half of the year.

So that's not our base case, the 5500, but it is something that could potentially be reasonable

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